Financial Statement Adjustments and Ratios

By: GTC

international Public Sector Accounting Standards (IPSAS) are being introduced in almost every country in the world. International Financial Reporting Standards (IFRS) have replaced International Accounting Standards (IAS) and are now becoming the world standard, but in many ways this is not specific enough for the needs of the public sector, so the United Nations and World Bank favour IPSAS, which is a modified form of IFRS tailored to the public sector.